Investors with a lot of money to spend have taken a bullish stance on General Electric GE.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with GE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 10 options trades for General Electric.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 50%, bearish.
Out of all of the options we uncovered, 9 are puts, for a total amount of $485,496, and there was 1 call, for a total amount of $41,360.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $125.0 for General Electric during the past quarter.
Volume & Open Interest Development
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for General Electric's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across General Electric's significant trades, within a strike price range of $40.0 to $125.0, over the past month.
General Electric Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| GE | PUT | TRADE | BULLISH | 03/15/24 | $125.00 | $59.9K | 640 | 839 |
| GE | PUT | SWEEP | BULLISH | 03/15/24 | $125.00 | $59.8K | 640 | 685 |
| GE | PUT | SWEEP | BULLISH | 03/15/24 | $125.00 | $57.7K | 640 | 87 |
| GE | PUT | SWEEP | BULLISH | 03/15/24 | $125.00 | $57.5K | 640 | 87 |
| GE | PUT | SWEEP | BEARISH | 03/15/24 | $125.00 | $50.4K | 640 | 412 |
About General Electric
GE was formed through the combination of two companies in 1892, including one with historical ties to American inventor Thomas Edison. Today, GE is a global leader in air travel and in the energy transition. The company is known for its differentiated technology and its massive industrial installed base of equipment sprawled throughout the world. That installed base most notably includes aerospace engines, gas and steam turbines, and onshore and offshore wind turbines. GE earns most of its profits on the service revenue of that equipment, which is generally higher-margin. The company is led by Danaher alumnus Larry Culp, who is leading a multiyear turnaround of the conglomerate based on lean principles.
Following our analysis of the options activities associated with General Electric, we pivot to a closer look at the company's own performance.
General Electric's Current Market Status
- Trading volume stands at 821,676, with GE's price down by -0.38%, positioned at $121.07.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 49 days.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest General Electric options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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